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Forced to move home need advice

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  • 24-04-2014 11:53am
    #1
    Irishcrx
    Registered Users Posts: 2,861 ✭✭✭


    Hi,

    I currently own a property I bought in 2008 , I reckon it is valued between 195,000 - 210,000 now and I owe 170k on my mortgage.

    I am looking to sell the house and move to another home with my family as I am basically being terrorised by my family in my current location , they have a history of drink problems and all live near by which has led to them turning up drunk and abusive on a number of occasions and I cannot have my young son growing up in this envoirment, so I need to go where nobody can find us basically, still in Dublin just not local to where I am.

    I'm confused about how I go about this to be honest and was looking for some advice , do I need to apply for a second mortgage with the bank or do I keep my existing one? Do I loose my TRS?

    My current house is semi-dethacted and 3 bedrooms , has expantion potential and will be in area that can attract good rent. I want to only spend what I get for the house or less , so if I get 200k , I'll spend say 180k plus whatever fee's , moving cost etc?

    Can someone tell me where I should start? Talk to the bank? estate agents? Also if it possible not to have a for sale sign in the garden that will just attract more trouble for me.

    Thanks very much.


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    #2
    hfallada
    Closed Accounts Posts: 4,180 ✭✭✭hfallada


    If you sell and move house you will lose your trs( gone since end of 2012). Although I can imagine it being eventually scrapped like tax relief on renting.

    If you rent your house you will have to pay tax on the income meaning you might not break even on the mortgage after you pay all the expenses of renting a house. Plus your mortgage possibly prohibits renting the property (although allegedly as long as you pay your mortgage the bank won't care).

    You Dont have to put a sign in the garden. But I have only every seen that being done on luxury homes. You are greatly reducing exposure by not putting up a sign.

    You can move house but its not going to end the issues with your family. Have you considered a restraining order against them?


  • Options
    #3
    No Pants
    Closed Accounts Posts: 3,347 ✭✭✭No Pants


    I would engage the Gardai. Why should you move?


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